Yup, you read that right. Nigeria. #11 on the list of countries with largest proven oil reserves. How does that happen? Well, it turns out, that if don't want to import gasoline, you should build a refinery. https://twitter.com/spectatorindex/status/1125090279684337664 …
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Dangote is building's Nigeria's first refinery.https://www.bloomberg.com/news/articles/2019-01-21/dangote-says-on-schedule-to-finish-nigeria-oil-refinery-in-2020 …
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Replying to @mbmalabu
Really? Where do I learn more? Looks like Nigeria has quite a few. I don't know if they are colonial era or something, but they seem not to run...
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Replying to @Molson_Hart
Yeah. Mostly not running. Built by the state in the 70's. Can read more on the state oil company's website.
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Replying to @mbmalabu
Got it, thanks. https://www.dpr.gov.ng/downstream/refinery/ … How is Dangote going to make his work if the state owned ones don't? I don't know how that guy does it.
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Replying to @Molson_Hart
Yeah. Shouldn't be too hard for him. He is spending a lot. And will be very careful about making the returns on his investment. The reason the state ones don't work isn't complexity. More likely because of incentives/priorities.
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Replying to @mbmalabu
I've met a few Nigerians. Not a brains issue. Seems like a corruption/gov't dysfunction problem.
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Replying to @Molson_Hart
Still trying to find the right name for Nigeria's real life version of "Portlandia."
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